The Trust Certificates (Sukuk) have an Ijarah and Murabahah structure. The 7 year senior unsecured Sukuk were priced competitively at 100 per cent of the issue price with a profit rate of 175 basis points over the 7 year mid-swap rate, returning a yield-to-maturity of 3.944 per cent. The Sukuk issuance (which was over-subscribed by a factor of 7.4 and with a global order book exceeding $3.7 billion) was well received by global investors (both Islamic and conventional) The issuance proceeds will be used to refinance EQUATE Group’s existing debt.

Mr. Rob Little – Counsel at ASAR noted that: “We are delighted to have been involved with both of the inaugural conventional and Sukuk issuances of the EQUATE Group. ASAR has a long and established history of acting as Kuwait law counsel in high quality debt capital market transactions, and both of the recent issuances of the EQUATE Group is no exception. We have previously noted that while global and GCC markets remain under some pressure, we believe that similar transactions are key to the overall stability of steady economic growth. We are particularly proud in having successfully represented the Managers in both issuances of the Equate Group.”

Mr. John Cunha – Partner at ASAR noted that: “We are delighted to have acted on behalf of the Managers in both of the inaugural conventional and Sukuk issuances of the EQUATE Group. Both of these issuances are a testament to the strength and depth of local and regional financial capital markets in a challenging environment. The successful conclusion of both of these issuances is the result of the hard work of the EQUATE Group and the Managers.”

With dedicated offices in Kuwait and Bahrain coupled with its associated offices and relationships, ASAR provides clients across an extensive range of industry sectors with comprehensive legal advice and support for their business activities in Kuwait, Bahrain, across the GCC and beyond.

The firm has been consistently rated as the leading corporate and commercial law firm in Kuwait by reputable legal guides such as the International Financial Law Review (IFLR), Chambers Global Guide, and the Legal 500. In 2016, ASAR was awarded with the IFLR National Law Firm of the Year Award; an award which ASAR has been delighted to receive for the 8th consecutive year.

ASAR lawyers have also received multiple awards under different categories in the Fourth Edition of ‘Best Lawyers’ in Kuwait. Playing roulette can be fun and entertaining, and with the option of playing it online, it’s been made easier and convenient too. You can easily play your favorite roulette game anytime, anywhere as long as you can access the internet. Moreover, if you want play roulette for real money, you can find a lot of casinos online that will make it possible for you.